Professional Documents
Culture Documents
0 Sep 2021
CHINGARI
Creator Economy
Unleashed
2
BUSINESS
Building a Creator Economy in Web-3.0
We are the Next Big Thing:
We have already incorporated the most promising industry advances
We create a Social token — the future of community platforms
We are converging two markets on an eager audience
GARI
The GARI token flows
Collaborative mechanics
Transactional mechanics
TECH
Platform technical architecture
Blockchain solution snapshot
Tokenomics of TGE
ABOUT
We will make it:
Future-proof roadmap with a solid community focus
Strong hands behind the wheel
Bullseye positioning at the nexus of trends
Launching from a sizeable bedrock
Building a Web-3.0
Creator Economy
PROBLE
Creator economy is shooting past the moon and back
There are at least 4M-38M influencers amongst ~3B active social network
users.* Most of them are in it for the money, and rightly so — the gain can be
huge. But competition is fierce, so it’s a full-time job for only a few.
13M
creators
With one in a hundred being a professional creator, there’s still a lot of miss $5B
controversy around whether or not it should be considered an occupation.
yearly
Although the latest influencer marketing spend increased to $14B,
just one third of brands pay actual cash; so only 1.5% micro-influencers
(up to 50K followers) can live on their social media income alone.
This way, we’re making being a creator a real career path — our
users will be able to make a living by creating engaging,
educational content and maintaining presence in our app.
$162M
for 12M Indian
$11.6B creators
$3.5B
potential revenue for potential revenue for
25.5M Indian creators 18M Indian creators
BUSINESS
* An action-based loyalty token system implemented for all Chingari users (creators and
viewers alike), individually tailored to each niche’s desired actions on the platform. The
Chingari Coin will be phased out and replaced with with Solana-based asset over time.
CONTEXT
6
Why we are
‘the Next Big Thing’
1. We’ve already incorporated the most
promising industry advances 45%
Short-form
video apps
A Chingari is short-form-first, capitalising
on the future of content formats
Play store
Top-20
India
Indians — the primary Chingari audience — spend 1/5 of their day
on smartphones consuming online content faster than the rest of the world.
Traditional digital entertainment offerings underserve a strong users’ need for
low-cost*, instant, personalized fun-feed with depth of choice. This is why short-form
emerged as the fastest-growing content category, jumping in India to 320M MAU in
2021 at 74% CAGR over 5 years. For creators, this is the most lucrative segment as well.
Strong product-market
fit will grow short-form
by 4x. By 2025, 60% Chingari AI creates a personalized feed for each user, taking
of internet users will into account all interactions with the content, anonymized.
prefer this content. We also maintain the Integrity of content moderation by
putting each piece of content through a layered system
of rigorously trained ML screening algorithms.
BUSINESS
* Requiring little to no investment of money and/or attention
** Bharat — a term that implies a multitude of Indian local ethnic and language groups celebrating their variety and diversity
CONTEXT
7
D
Loyalty programmes turn tokenized
everywhere — ours is already working
Despite a longstanding debate on whether loyalty
45k Sporadic
10k each Unique
programs are effective and why, the industry does not
seem to drop the idea. Instead, 2020 showed a growing
Loyalty Coin sound
trend of enterprise rewards partnerships globally, that
MAU Featured
video revealed the untapped potential of the $200B loyalty
Hashtag market by demonstrating points' use as a ‘substrate
use digital currency’ in a pandemic-stricken economy.
This furthers the point of tokenization as a revolutionary
0.3M paradigm shift for platform business models and DLT
Video as an ideal remedy for what ails loyalty rewards programs:
upload like low client retention and redemption rates, time
delays, and high costs. With enhanced utility features,
3.5M
Social Tokens are positioned to vastly outperform
Video previous attempts at loyalty tokens by directly
share involving the community in a larger economy.
6.8M
App Chingari users have been enjoying Chingari coins
log-in for over a year and the adoption metrics have been
41M
astounding. Their familiarity with token mechanics
predicts a smooth learning curve while switching to
160M Video fully-blockchainized tokenomics with more alternative
view monetization opportunities coming to the platform.
Sign-up Main reward
bonus streams, monthly
BUSINESS
* Unified Payment Interface; 1000 coins are equivalent to 1 INR, min withdrawal amount is 10k Chingari Coins
CONTEXT
8
$102M $8M
$0.9B
$182M
Social tokens $0.3B
market capitalization
* Messari estimates in fully diluted market capitalization, as of October 2020 (p. 120)
BUSINESS
9
CONTEXT
3. Crypto in India is big,
we are making it mainstream
India is a growing home to the biggest number of crypto
enthusiasts that keeps overseas funding flowing into the
crypto startups. Over 100M crypto owners (10% of the adult
population*) holding $6.6B in crypto assets express strong
growth in interest and adoption of alternative assets which
is significantly fuelled by the youth between 18-35 y.o., most
of whom happen to be first-time investors.
300M 3B
Crypto
33M Active social
users Chingari network users
globally users worldwide
Chingari App
G (off-chain)
Short videos
Multiplex
all stakeholders
Messaging
PLATFORM
11
Platform Interactions
TOKE
& GARI Token
The platform will run two groups of mechanics:
○ Transactional mechanics facilitate an exchange of goods & services,
○ Collaborative mechanics help users coordinate around a common
goal or agenda, such as supporting a particular creator or defining
the future of the platform.
All interactions are facilitated with GARI token.
Collaborative
Governance Token-gated content Creator Pools
mechanics
Transactional
Tipping In-video sales NFTs
mechanics
PLATFORM
12
Collaborative
TOKE
1. Governance Mechanics
A platform is only as good as its community. Chingari doubles down on that
principle by introducing direct incentivized feedback loops within the
community and between the community and platform developers. The
centerpiece of the design is the mechanism of platform governance.
On Chingari platform, governance participation starts with staking
GARI tokens in the Chingari DAO* and receiving DAO shares. The
DAO, through its share-weighted voting system, passes protocol-
governing decisions and directs usage of the DAO Treasury.
Active DAO voters receive an APY on their staked tokens.
Proposals on the DAO go through off-chain and on-chain states:
Off-chain (in-app) there is a proposal board for feature requests and
A
suggestions, with upvoting and downvoting mechanics. This gives the
board the best exposure among creators and viewers and allows good
ideas to gain maximal traction, if they are understood by the community.
B
If the proposal reaches a supporters threshold and is sponsored
by two users to be sent on-chain, it is uploaded to a smart contract
and put to vote at the DAO.
Liquidity
Pool
5 Automatic
staking if
A long-term vision is that most of the platform’s future voting
development will be governed by its DAO, aligning interests Monitor
& control
on-chain
of all voters (i.e. the community as a whole). The first step
towards this vision is organizing regular hackathons for DAO Treasury
platform development, which will be driven by Chingari
and supported by the prizes from the Treasury. On-chain
2. Creator pools
Creator pools are a way for the viewers to support creators
by providing them with GARI through a special mechanism.
Create &
○ A creator initializes a special pool, that
maintain
incentives
is used for social endorsement and is tied
to the creator's popularity. By giving GARI
creators to the creator users obtain shares of that
pool. The more shares of the pool are sold,
Initiate Exclusive content the more expensive they become. Shares
a pool & opportunities
can also be redeemed by shareholders
by withdrawing the pro rata part
of the remaining pool.
Creator pool
Premium Creator
If users participate in a Creator Pool they content chat rooms
will be able to access the locked content
types: private chats, contests, videos, etc. Special Community
We expect this to be a major utility point requests video calls
PLATFORM
14
Transactional Mechanics
This group of mechanics captures forms of traditional exchange
of goods and services for currency, or goodwill currency donations.
1. Tipping Occasional
airdrop
creators
Users can tip content creators with GARI.
Because a blockchain keeps the record of
all transactions, creators always have a list Random
incentives
of all supporters in case they decide to do
a retroactive airdrop of premium content
or unlock some exclusive interactions.
users
Revenue
2. Influencer marketplace
share
creator business
Create selling
Commercial companies can place
entertainment Revenue advertisements on the platform by paying
content creators with GARI for endorsements
Advertising content or other promoting content. Via a personalized
ML-fed a user is provided engaging, targeted
OKEN
users
PLATFORM
15
Technical
overview Easy & secure
access
Chingari
The main interaction point backend
between Chingari and its
user base is the mobile app,
Backup key store
fuelled by the backend.
Integrated platform also Encrypted key backups,
locked from CHINGARI
connects to Solana
blockchain that hosts
its token and smart
contract components. Mobile key store
Solana nodes
User’s private keys
GARI token
Creator
pools Tipping Payments
TECHNICAL
16
Blockchain solution
Why Solana?
The current Chingari platform has 31.26M MAU and serves 3.5M users
per day. This is only the beginning. In the past year, over 4M users were
acquired each month, and the potential audience is much bigger.
It is the vision of Chingari that each user (creator and viewer alike) should
have their own tokens and direct blockchain interactions, making the
platform more resilient and providing the users a gateway into the
blockchain world without crippling its natural strong characteristics.
1. GARI is the fungible blockchain token of the platform, built to SPL standard.*
2. Creator pool shares are tied directly to Creator Pools and are represented
as fungible non-transferrable tokens. The shares are minted to support
creators and connected to the revenues generated by them.
Creator pool shares are implemented as a combination of staking,
automated market makers (AMM), and bonding curves. Each Creator Coin
has its own liquidity pool of GARI and a dynamic price based on the relative
amount of staked GARI and the monetary mass of the coin. This mechanism
provides free entry and exit for supporters and dynamic pricing for the coin
with high capital efficiency.
* SPL is the main Solana standard for fungible tokens, supported by every application
and protocol that has fungible token interactions. TECHNICAL
17
Tokenomics
GARI token is capped to 1B in
total supply and has an unlock
structure to support 200 to
300M in circulating supply
at the end of year 1
25% 15%
Chingari DAO Staking
Treasury rewards 5%
Airdrop to current
Chingari users
Following
the public sale
there will be a GARI
airdrop for existing
Chingari users to
20%
Public Sale
jumpstart creator
economy
15%
Advisors
& Team*
Funds from
10% 10% the DAO Treasury
Seed Round Private Sale will be distributed
to the proposals that
win the DAO voting
TECHNICAL
* Chingari will receive a percentage of the DAO in tokens for selling IP from Chingari to the DAO.
18
Future-proof roadmap
ROADMA
& solid community focus
Business initiatives Product development Technical initiatives
Seed round
closed at $1.4M H2
DLT team
in equity 2020
Blockchain-specific technical
Chingari Chat team assembled
1-1 direct messaging
channel for creators to
Series A reach their followers
closed at $13M $GARI
in equity Identify L1 partner for
H1 Chingari Diamonds blockchain build
Boost 2021 In-app currency for
Promoting feature purchasing promotion plans,
$GARI bought with diamonds virtual gifts, and other perks
Whitepaper complete to get more followers $GARI
Token development
initiated
Widgets v.1 Audio Rooms v.1
$GARI Embedding, widget Chat rooms, virtual gifts,
Educational roadshow styles, dashboard for in-app store, paid seats
website owners
$GARI
with Chingari-sponsored and paid rooms
talent (Salman Khan) Blockchain solution
live testing
Q3
2021
$GARI Chingari Super Star Chingari Skills v.1
Private sale
Voting on favourite creators for
closed at $15M Instructor dashboard and $GARI
them to get verified badges of Students UI to buy, interact,
various ranks (mechanism testing) Chingari platform
and give feedback on courses
integration (beta)
$GARI
Present at Solana’s Widgets v.2 Audio Rooms v.2
Lisbon conference widget-based monetization Game-based rooms, $GARI
mechanisms in-room voting & contests Finalize token
smart contract
$GARI
Q4
Public sale $70M 2021
Chingari Skills v.2 $GARI
$GARI Affiliate system with 500+ Finalize smart contracts
Airdrop to current courses integrated for staking, minting,
platform users vesting and all other
$GARI supporting features
Sponsor and participate
in the first ‘Build Out GARI $GARI
Loud’ Solana hackathon DAO mechanics
Token launch launch
Strong hands
behind the wheel
Deepak Salvi
Co-Founder, COO
FOUNDING TEAM
Sumit Ghosh
CEO & Chief of Product & Growth
Scaled his 1st startup to 9M revenue
Master of user acquisition
Biswatma Nayak
Co-founder & Head of Engineering
Has built 10-15 social media automation tools,
dating apps and scaled them to 1M users.
linkedin
Aditya Kothari
Co-Founder & Chief of Strategy
Created strategies to build, launch
& scale several B2C companies
linkedin
Tariq Wali
Chief of Technology
Innovative technology leader in product development with
TECHNICAL
Kamal Sain
Engineering Manager
Extensive experience continuously improving processes and
products by meeting and exceeding performance and
reliability requirements.
linkedin
Noah Thorp
Founder, CoMakery
Pioneering work with Republic Crypto on regulation
compliant crypto crowd funding and blockchain
settlement network
linkedin
WHY WE
20
Superstar backers
PARTNER and partners
To build the best blockchain integration possible, Chingari is
partnering with Solana Labs, a high-performance, high-profile
team who created Solana protocol and have been perfecting
it ever since.
Solana Labs is indispensable in setting up Chingari’s blockchain
integration, advising on key architectural decisions, supplying
foundational wallet tech, and providing development support.
On the business development side, Chingari will lean on Solana
Labs for support with monthly hackathon partnerships,
marketing and awareness campaigns, and building
relationships with other ecosystem projects that can
empower and extend the Chingari’s solution.
$15M
Private Tokensale
Q3 2020
interested parties
$1.4M in Equity
Seed round
Q3 2020
$13M in Equity
Series A
Q4 2020
WHY WE
21
WHY WE
July 2021 77M users
22
Launching from
a sizeable bedrock
Putting users first pays for itself in
high user engagement and loyalty
Having started as a social network app in 2018, Chingari has
pivoted into a video-sharing platform keeping their initial idea of a
system for transparent and honest communication as a guiding
principle for the company. Our client-centric approach inspires us
to continuously improve the app based on user feedback. A
user-friendly interface, tools for intuitive video editing, educational
content, exclusive camera features, tokenized reward system and
other improvements help to build a trusting and loyal following
proven by numbers: every month 33M users create over 7M new
videos, spending an average of 38 min per day being actively
engaged with a total of more than 50M short videos.
Content grapevine
as a user acquisition channel
Videos have a spillover effect and become an additional source of reaching out
Jul 2020 8M users to a new audience. The platform amassed a total of 1.6B views because users
share Chingari content to other networks at least 1M times a day, natively
promoting the platform among prospective users and creators.
Resources
& References
Resources used for the Infographics
● Total potential revenue of the most active creators as a percentage of
platform ad revenue (page 4): Digital Information World; Mediakix;
Signalfire; Mobilemarketingreads.com; Businessofapps.com; Reuters;
● Merging crypto users and social media users (page 9): Triple-a.io;
Economic Times
BUSINESS
24
G
MKT
PLTF
TGE
TEAM
PLATFORM
TECHNICAL creators developers